Middle East

BP and Abu Dhabi sign two green hydrogen projects

The United Arab Emirates energy companies, Abu Dhabi National Oil Company (ADNOC) and Masdar, will join British energy giant, BP’s H2Teesside and HyGreen Teesside hydrogen projects, Bloomberg reports.

According to the report, BP has taken a major step in strengthening its strategic partnership with two major companies of UAE ADNOC and Masdar of Abu Dhabi.

ADNOC will take a 25 per cent stake in the design stage of BP’s blue hydrogen Project named as H2Teesside, the report says.

Masdar has also signed a Memorandum of Understanding to buy a stake in BP’s proposed green hydrogen project called HyGreen Teeside.

These two projects could deliver 15 per cent of the UK government’s recently expanded ten-gigawatt target for hydrogen production in 2030, the report added.

This new partnership builds on framework agreements signed during a September 2021 visit to the UK by UAE President, Sheikh Mohammed bin Zayed Al Nahyan.

READ: What will be the future of global energy post-Ukraine war?

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